I urge shareholders to read the letter which I sent to CLST
today as it sets the record straight," said David Sandberg, Managing Partner of Red Oak Partners, LLC.
Red Oak's Portfolio Manager, David Sandberg, stated, "CLST has not held any annual meetings since a group led by its Chairman Tim Durham, which included CLST Director David Tornek and others, and which nominated CLST Director and CEO Robert Kaiser, first took control of the Company in 2007.
On February 24, 2010, the Dallas County District Court ordered a TRO ("Temporary Restraining Order") restraining Defendants (CLST, Tim Durham, Robert Kaiser, and David Tornek) from filing a Certificate of Dissolution for CLST until midnight on March 10, 2010 or further court order.
On or prior to February 16, 2009, the Rights Plan will be filed by CLST
with the Securities and Exchange Commission; this filing will contain additional information regarding the terms and conditions of the Rights Plan.
CONTACT: Robert Kaiser, President, Chief Executive Officer of CLST
Holdings' President and Chief Executive Officer.
shareholders are encouraged to review both management's and the dissident group's proxy solicitations before deciding how to vote their shares at the upcoming election of directors.
DALLAS, March 13 /PRNewswire-FirstCall/ -- CLST
DALLAS, March 25 /PRNewswire-FirstCall/ -- CLST
DALLAS, April 7 /PRNewswire-FirstCall/ -- CLST
On November 12, 2009, CLST
and Red Oak Partners, LLC, Red Oak Fund, LP and Jeffrey S.
OTC Bulletin Board: CLST
(formerly CSAT)), a Nevada corporation, today announced that the previously announced one-for-ten reverse stock split of its common stock became effective upon the opening of the Over-the-Counter Bulletin Board market this morning.